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    Belarmine where the dort accent has been replaced by the loooas accent. They payed a lot of dough for those abodes . Total fitness could have been a gold mine .

    Comment


      Originally posted by Hitchhiker's Guide To... View Post

      ha. I had to return to a class that very second, so I decided to post and run.

      There's a few issues there.

      First of all, centralised finance is, I would have thought fairly clear as the current traditional finance nexus. Commercial banks, investment banks, personal banks, central banks. Decentralised finance is where there is algorithmic matching of borrowers and savers, risk deferrers and risk accepters, short-term needers vs long-term needers. The whole system of banking becomes unnecessary then because this will be matched in a much less costly way. That everything becomes an exchange, in much the way that stockmarkets work - but for all finance.

      I'm not saying that the entire traditional finance sector will disappear, but it will all be hollowed out. I don't think the concepts though, or the ambition is all that crazy. Its very reasonable and there's a strong cost incentive and benefit incentive. It will also allow fairer access to finance.
      I think our question relates to the issuance of currency.

      Is that something that governments and their central banks will allow to be subsumed by non-state actors? i.e. that whole concept of 'legal tender' could become replaced by just 'tender'.
      Last edited by Raoul Duke III; 13-05-21, 16:29.
      "We are not Europeans. Those people on the continent are freaks."

      Comment


        Originally posted by Solksjaer! View Post

        . There are few of us verile types left in this gender confused world. These 27 year olds have needs you know and standards are dropping all the time . It's a perfect storm
        I like that Benny used a specific age. There's something going on there that he ain't telling us.
        "We are not Europeans. Those people on the continent are freaks."

        Comment


          Originally posted by Raoul Duke III View Post

          I like that Benny used a specific age. There's something going on there that he ain't telling us.
          The 27 club .

          Comment


            Originally posted by Raoul Duke III View Post

            I think our question relates to the issuance of currency.

            Is that something that governments and their central banks will allow to be subsumed by non-state actors? i.e. that whole concept of 'legal tender' could become replaced by just 'tender'.
            I think its a thing that will happen anyway, so the issue will be about finding some way of working with it.
            "We're not f*cking Burundi" - Big Phil

            Comment


              Originally posted by Hitchhiker's Guide To... View Post
              Belarmine is shocking planning tbh. A fresh store, a bakery, a pizza shop, and then fuck off. They really need to design these places to have some spaces for e.g. markets, more random shops, as that's where a lot of the personality of a place lies. It still though has a nice modern pleasant feel to it, so obviously everyone is happy there. We visited there loads due to it being in the 5km and the base of the Dublin mountains.

              Poor Stepaside is the ugly cousin that shows what happens when places like Belarmine go wrong. Loads of apartments, loads sprouting Irish flags now (a new style of warning sign), and all they got was a freaking centra. You've really been fucked over when all you have is a centra. Wasn't even any seats there where you could consider it a community. Just roads, houses, and a centra.
              Don't forget about pitch & putt courses! Stepaside is definitely not lagging behind when it comes to number of pitch & putt courses per head of population!


              Comment


                Originally posted by Hitchhiker's Guide To... View Post

                I think its a thing that will happen anyway, so the issue will be about finding some way of working with it.
                Really? You think central authorities will just say 'fuck it, never mind our fiat currency that underpins our entire financial system, go use whatever Crypto floats your boat. Tomorrow's government bond issue will be denominated in Dogecoin.'?

                Might as well decentralise laws while we're at it.

                (Exaggerating for effect but you see the point)
                "We are not Europeans. Those people on the continent are freaks."

                Comment


                  Originally posted by ionapaul View Post

                  Don't forget about pitch & putt courses! Stepaside is definitely not lagging behind when it comes to number of pitch & putt courses per head of population!
                  Do you claim The Scalp too? Or does Kilternan own that?

                  That name always fascinated me as a kid.
                  "We are not Europeans. Those people on the continent are freaks."

                  Comment


                    Originally posted by Raoul Duke III View Post

                    Really? You think central authorities will just say 'fuck it, never mind our fiat currency that underpins our entire financial system, go use whatever Crypto floats your boat. Tomorrow's government bond issue will be denominated in Dogecoin.'?

                    Might as well decentralise laws while we're at it.

                    (Exaggerating for effect but you see the point)
                    I think it already has happened. There's global somewhat decentralised stock markets, why not cash. I wonder if fiat currency really does underpin our entire financial system?
                    "We're not f*cking Burundi" - Big Phil

                    Comment


                      Originally posted by Raoul Duke III View Post

                      I think our question relates to the issuance of currency.

                      Is that something that governments and their central banks will allow to be subsumed by non-state actors? i.e. that whole concept of 'legal tender' could become replaced by just 'tender'.
                      You mean like most eu countries moving to one currency to make trade easier - it’s surely inevitable

                      Comment


                        Originally posted by RichieM View Post

                        You mean like most eu countries moving to one currency to make trade easier - it’s surely inevitable
                        Those EU countries created a centralised authority, the ECB. The Euro is a fiat currency, just one where a group of (already legally tightly bound) countries have agreed a pan-national approach.

                        Very different to crypto.
                        "We are not Europeans. Those people on the continent are freaks."

                        Comment


                          Originally posted by Hitchhiker's Guide To... View Post

                          I think it already has happened. There's global somewhat decentralised stock markets, why not cash. I wonder if fiat currency really does underpin our entire financial system?
                          What is your wealth denominated in, transactions undertaken in, legal contracts etc?

                          The business of issuing and regulating money itself is a government monopoly. I can't see them giving that up.
                          "We are not Europeans. Those people on the continent are freaks."

                          Comment


                            Originally posted by Raoul Duke III View Post

                            What is your wealth denominated in, transactions undertaken in, legal contracts etc?

                            The business of issuing and regulating money itself is a government monopoly. I can't see them giving that up.
                            us

                            Comment


                              I guess thinking about it some more, the fundamental question is do we want a stable secure monetary system that underpins our economy (yes - we've seen enough examples of what happens when you don't have this: Weimar, Zimbabwe, Argentina etc)?

                              And if that is a valid objective (it is), then what kind of framework do you need in place to guarantee that? It's so fundamental to the functioning of your economic system that I think governmental authority and regulation is key. Maybe I am just a dinosaur.

                              bR7esdFx.png
                              "We are not Europeans. Those people on the continent are freaks."

                              Comment


                                Originally posted by Hitchhiker's Guide To... View Post
                                Belarmine is shocking planning tbh. A fresh store, a bakery, a pizza shop, and then fuck off. They really need to design these places to have some spaces for e.g. markets, more random shops, as that's where a lot of the personality of a place lies. It still though has a nice modern pleasant feel to it, so obviously everyone is happy there. We visited there loads due to it being in the 5km and the base of the Dublin mountains.

                                Poor Stepaside is the ugly cousin that shows what happens when places like Belarmine go wrong. Loads of apartments, loads sprouting Irish flags now (a new style of warning sign), and all they got was a freaking centra. You've really been fucked over when all you have is a centra. Wasn't even any seats there where you could consider it a community. Just roads, houses, and a centra.
                                It’s one thing that’s really struck me since moving here tbh. The planning and design around community is incredible.

                                every barrio (neighbourhood) has a selection of local shops. Take ours, on our street alone we have a garage, 6 local bars, a tobacconists, a bathroom store, a newsagents, 2 bakeries 2 barbers, 1 hairstylists, 2 pharmacies a butchers and a greengrocer.

                                one street over we have a supermarket, another butcher, a bazaar, 2 more bakeries, beauty salon, physio, full public funded gym/swimming pool, a sandwich shop, another bar, an optician and a health centre, one street over in the other direction and we have 3 banks, a metro, a few more bars, barbers, asian supermarket, bakery etc.

                                this is repeated throughout the city. Every neighbourhhod has these facilties. On top of that, every neighborhood has parks, dog parks, kids play areas, baskteball courts, 5-a-side concrete football pitches. There are of course issues and plenty of them, but the community layouts really work.
                                Join the IPB Fantasy Football League 19/20

                                http://www.irishpokerboards.com/foru...88#post1104188

                                Comment


                                  Originally posted by Emmet View Post

                                  Paper money has been on the way out (In the 'connected world') for decades - cryptocurrencies are not a replacement, we already have electronic transactions and have done (for decades). RFID has been a larger catalyst by orders of magnitude than cryptos in the reduction of the paper money transaction rate cardinally and electronic bank transfers already dwarfed it notionally.

                                  "Centralised Finance" - what does this mean? I can understand what "decentralised finance" means as a moniker for using distributed systems to administer authorisation of transactions, but it doesn't have a well defined antonym. "Decentralised finance" just means that the authority used to transact is not vested anywhere specifically, and barriers to becoming authoritative are aimed to be minimised. Is "Centralised Finance" the opposite of this? What is that opposite? And is that opposite what exists today, or is it a straw man that gets beaten up mercilessly for no reason?

                                  Be sceptical of the beansellers, for their beans may not be what you are looking for, and it is in their interest to convince you otherwise.
                                  I'm always amazed at how people here have such strong opinions on subjects they know very little about - in fact they can't even describe what they are complaining about.

                                  Both centralised finance and de-centralised finance are exact terms that mean something. I'll quote from research the St Louis Fed published recently:

                                  "The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-layered framework to analyze the implicit architecture and the various DeFi building blocks, including token standards, decentralized exchanges, decentralized debt markets, blockchain derivatives, and on-chain asset management protocols. I conclude that DeFi still is a niche market with certain risks but that it also has interesting properties in terms of efficiency, transparency, accessibility, and composability. As such, DeFi may potentially contribute to a more robust and transparent financial infrastructure.The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-layered framework to analyze the implicit architecture and the various DeFi building blocks, including token standards, decentralized exchanges, decentralized debt markets, blockchain derivatives, and on-chain asset management protocols. I conclude that DeFi still is a niche market with certain risks but that it also has interesting properties in terms of efficiency, transparency, accessibility, and composability. As such, DeFi may potentially contribute to a more robust and transparent financial infrastructure."

                                  The entire article is here, and worth reading https://research.stlouisfed.org/publ...2-e2bf29ec662c

                                  It goes into a lot of detail, so just skip to the end if you want an overview.





                                  Comment


                                    Also defi works perfectly well with Fiat currencies, they aren't mutually exclusive

                                    Comment


                                      Originally posted by Hectorjelly View Post

                                      I'm always amazed at how people here have such strong opinions on subjects they know very little about - in fact they can't even describe what they are complaining about.

                                      Who is complaining?
                                      Gone full 'Glinner' since June 2022.

                                      Comment


                                        Originally posted by Hectorjelly View Post

                                        I'm always amazed at how people here have such strong opinions on subjects they know very little about - in fact they can't even describe what they are complaining about.

                                        Both centralised finance and de-centralised finance are exact terms that mean something. I'll quote from research the St Louis Fed published recently:

                                        "The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way.



                                        Good LOL at the idea of locking the concept of decentralised finance to Etherium...

                                        "When I use a word," Humpty Dumpty said, in rather a scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words mean so many different things." "The question is," said Humpty Dumpty, "which is to be master—that's all."

                                        Also LOL @ Emmett knowing very little about finance.


                                        When you are at it did you ever get around to answering the question I asked you to explain the difference between an NFT and an EFT e.g. a card payment transaction beyond whether the record is held in a public or a private ledger?
                                        Last edited by Strewelpeter; 13-05-21, 21:40.
                                        Turning millions into thousands

                                        Comment


                                          Anyone been travelling to the UK recently? what do you need in terms of covid to fly in and out these days?

                                          If I'm reading it right you can arrive in the UK and go about your business without any documentation but returning to Ireland requires a clear PCR test and 14 days quarantine regardless of your vaccination status?
                                          Turning millions into thousands

                                          Comment


                                            Originally posted by Goodluck2me View Post


                                            Hectorjelly what do you make of Tesla’s decision to stop allowing Bitcoin due to ESG concerns?
                                            Mainly Elon's going to Elon.

                                            There's no doubting the environmental meme is strong though, at this stage whether it's true or not is neither here nor there - and Tesla can't afford to endanger the ESG crowd or subsidies.

                                            I have two good friends, one owns a Tesla, has made a fortune with Tesla shares and believes Elon is a visionary who will take us to mars. The other hates him, thinks Tesla is a fraud and has lost a lot of money shorting Tesla. I must try and arrange a meeting between them.

                                            Comment


                                              Originally posted by Strewelpeter View Post

                                              Good LOL at the idea of locking the concept of decentralised finance to Etherium...

                                              "When I use a word," Humpty Dumpty said, in rather a scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words mean so many different things." "The question is," said Humpty Dumpty, "which is to be master—that's all."
                                              You should let the Fed know of your thoughts, I'm sure they would be very glad for your input.

                                              Comment


                                                Originally posted by Strewelpeter View Post
                                                Also LOL @ Emmett knowing very little about finance.
                                                Banking is a very specific subfield of finance. Knowing finance in general really doesn't mean you necessarily know banking. I did a full masters specifically on banking and still know very little about its complexity.

                                                But this is a bigger point. The idea that countries will be able to control money supply is laughable. Even to change interest rates the best a country can do is suggest new rates rather than force them. Once money is digital no-one cares where its from. Its loads of time away before we see real changes, but its al bubbling and will wipe the establishment away in due course. Traditional finance is largely a sponge of privilege extracting value for doing mechanical jobs. We need to ditch that and start with a fairer model. We're already dealing with algorithms in our banking (lending decisions, rates etc), its just about implementing fairer lending decisions.

                                                "We're not f*cking Burundi" - Big Phil

                                                Comment


                                                  Originally posted by Hectorjelly View Post

                                                  I'm always amazed at how people here have such strong opinions on subjects they know very little about - in fact they can't even describe what they are complaining about.

                                                  Both centralised finance and de-centralised finance are exact terms that mean something. I'll quote from research the St Louis Fed published recently:

                                                  "The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-layered framework to analyze the implicit architecture and the various DeFi building blocks, including token standards, decentralized exchanges, decentralized debt markets, blockchain derivatives, and on-chain asset management protocols. I conclude that DeFi still is a niche market with certain risks but that it also has interesting properties in terms of efficiency, transparency, accessibility, and composability. As such, DeFi may potentially contribute to a more robust and transparent financial infrastructure.The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-layered framework to analyze the implicit architecture and the various DeFi building blocks, including token standards, decentralized exchanges, decentralized debt markets, blockchain derivatives, and on-chain asset management protocols. I conclude that DeFi still is a niche market with certain risks but that it also has interesting properties in terms of efficiency, transparency, accessibility, and composability. As such, DeFi may potentially contribute to a more robust and transparent financial infrastructure."

                                                  The entire article is here, and worth reading https://research.stlouisfed.org/publ...2-e2bf29ec662c

                                                  It goes into a lot of detail, so just skip to the end if you want an overview.
                                                  Centralised finance means what? There isn't a single definition of it in your quote dump, nor your link.

                                                  What you posted agrees fully with my previous post, doesn't contradict in any way whatsoever, yet is written as as if you've pointed out something so trivial that I should be ashamed of my knowledge. Doesn't tally whatsoever though.
                                                  Last edited by Emmet; 13-05-21, 22:47.

                                                  Comment


                                                    Originally posted by Hitchhiker's Guide To... View Post

                                                    Banking is a very specific subfield of finance. Knowing finance in general really doesn't mean you necessarily know banking. I did a full masters specifically on banking and still know very little about its complexity.

                                                    But this is a bigger point. The idea that countries will be able to control money supply is laughable. Even to change interest rates the best a country can do is suggest new rates rather than force them. Once money is digital no-one cares where its from. Its loads of time away before we see real changes, but its al bubbling and will wipe the establishment away in due course. Traditional finance is largely a sponge of privilege extracting value for doing mechanical jobs. We need to ditch that and start with a fairer model. We're already dealing with algorithms in our banking (lending decisions, rates etc), its just about implementing fairer lending decisions.
                                                    Money has been digital since before I was born.

                                                    Comment


                                                      Originally posted by Emmet View Post

                                                      Money has been digital since before I was born.
                                                      Analogue conversions to digital are not digital. there is no digital system that even knows FIAT circulation to any exact degree. digital money will change so much. but is against government and federation (Ireland and Euro, US and Dollar) etc objectives of control. But the incentive change is important because it's puts accessibility and equity in non-privileged hands. Long road but it has started.

                                                      Comment


                                                        Originally posted by paul8200 View Post

                                                        Analogue conversions to digital are not digital. there is no digital system that even knows FIAT circulation to any exact degree. digital money will change so much. but is against government and federation (Ireland and Euro, US and Dollar) etc objectives of control. But the incentive change is important because it's puts accessibility and equity in non-privileged hands. Long road but it has started.
                                                        This sounds cool but is 100% wrong.

                                                        Comment


                                                          Originally posted by Emmet View Post

                                                          This sounds cool but is 100% wrong.
                                                          that's not much of a debate response? give me something to debate with - i'd happily defend

                                                          Comment


                                                            I'll give you an example. we rented VHS. it was great when they went to DVD. better fidelity, and you've weren't charged 50cent if you didn't rewind when returning. Then Netlix killed blockbuster by renting by post. some super interesting stories about that. Anyway what we all wish we realized then was how good netflix would be at a true digital version. For me I couldn't see past the bandwidth mess in 2010. look where we are now. Cinemas are edge

                                                            Comment


                                                              Originally posted by Emmet View Post

                                                              Centralised finance means what? There isn't a single definition of it in your quote dump, nor your link.

                                                              What you posted agrees fully with my previous post, doesn't contradict in any way whatsoever, yet is written as as if you've pointed out something so trivial that I should be ashamed of my knowledge. Doesn't tally whatsoever though.
                                                              The "quote dump" was a couple of lines explaining succinctly what decentralised finance is, and the link explains the value and potential in such a system. But I suppose you believe you know better than the authors of the research, despite never using DEFI or understanding how it works. Have you forgotten the bean comment?

                                                              Centralised finance is anything that isn't decentralised. It's an easy way to distinguish between the two systems. People who work in fintech distinguish what they do from the rest of finance with the term traditional finance. In that context, traditional finance covers anything a bank does, even if it isn't particularly traditional. De/Centralised finance follows the same structure. Terms like this are shorthand allowing conversations to flow without having to explain everything from first principles.

                                                              We had the same problem when you referred to the Euro as a digital currency. In some respects it is digital, but it is not what is commonly referred to as a digital currency. Here is a link which highlights what I mean: https://n26.com/en-it/blog/digital-e...yment%20method

                                                              I look forward to you thanking me for the quote dump.

                                                              Comment


                                                                Originally posted by Strewelpeter View Post

                                                                Good LOL at the idea of locking the concept of decentralised finance to Etherium...

                                                                "When I use a word," Humpty Dumpty said, in rather a scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words mean so many different things." "The question is," said Humpty Dumpty, "which is to be master—that's all."

                                                                Also LOL @ Emmett knowing very little about finance.


                                                                When you are at it did you ever get around to answering the question I asked you to explain the difference between an NFT and an EFT e.g. a card payment transaction beyond whether the record is held in a public or a private ledger?

                                                                I didn't say Emmet knew very little about finance, and why on earth would I bother responding to a question like that. You've clearly made your mind up - the best I could hope for is an ill-informed "LOL" after you glanced at the first few sentences of something.

                                                                Comment


                                                                  anyone ever looked into the $1 homes in italy? Looks like ill have 5 months off from august?

                                                                  Comment


                                                                    Oh dear



                                                                    Gone full 'Glinner' since June 2022.

                                                                    Comment


                                                                      Originally posted by paul8200 View Post

                                                                      that's not much of a debate response? give me something to debate with - i'd happily defend
                                                                      analogue to digital conversion is a downsampling of the information required, anything which has been made digital from analogue is just as digital as anything that was directly digitised. As a soundbite that looks edgy it literally makes zero sense.

                                                                      What genuine benefits accrue to us to decentralise the financial world? At what costs to us?
                                                                      How many of these benefits are exceptional to decentralised finance?

                                                                      Comment


                                                                        Does Gary ever give less than 6/10?

                                                                        Gone full 'Glinner' since June 2022.

                                                                        Comment


                                                                          Originally posted by ComradeCollie View Post
                                                                          Oh dear


                                                                          The main oil pipeline in the US got hacked this week too. Roooshians.
                                                                          "We are not Europeans. Those people on the continent are freaks."

                                                                          Comment


                                                                            Originally posted by Hectorjelly View Post

                                                                            The "quote dump" was a couple of lines explaining succinctly what decentralised finance is, and the link explains the value and potential in such a system. But I suppose you believe you know better than the authors of the research, despite never using DEFI or understanding how it works. Have you forgotten the bean comment?

                                                                            Centralised finance is anything that isn't decentralised. It's an easy way to distinguish between the two systems. People who work in fintech distinguish what they do from the rest of finance with the term traditional finance. In that context, traditional finance covers anything a bank does, even if it isn't particularly traditional. De/Centralised finance follows the same structure. Terms like this are shorthand allowing conversations to flow without having to explain everything from first principles.

                                                                            We had the same problem when you referred to the Euro as a digital currency. In some respects it is digital, but it is not what is commonly referred to as a digital currency. Here is a link which highlights what I mean: https://n26.com/en-it/blog/digital-e...yment%20method

                                                                            I look forward to you thanking me for the quote dump.
                                                                            I didn't ask what decentralised finance was? I asked what centralised finance is? If you're defining decentralised finance as the complement of that, then you surely would be able to explain in layman's terms what it is that you would like to break away from.

                                                                            Tell me what you don't want in the financial system that exists today and give me 3 genuine benefits to a state deciding that a decentralised approach to the monetary system is a better option. We'll not consider any of the costs just yet. Just 3 tangible improvements to my neighbour Mrs. Keogh's life that would come about if we all jumped ship and 'moved across' the boundaries. Ideally these 3 benefits would be specifically applicable, and not available to us in our current setup.

                                                                            FWIW Target 2 launched in the Eurozone in 1999, based on the back of existing digital payment systems to facilitate central bank cross-border settlement. Nobody was delivering pallets of euros to the ECB daily to offset their obligations to the ECB.

                                                                            Comment


                                                                              Speaking of finance. Jordan Speith sinking a 55ft eagle putt for joint 1st round leader was a real fist pump moment . He is unreal at times . He is to me what kaymer is to nicnic
                                                                              Last edited by Solksjaer!; 14-05-21, 08:15.

                                                                              Comment


                                                                                Originally posted by paul8200 View Post
                                                                                I'll give you an example. we rented VHS.
                                                                                Xtravision the cause of our financial imprudence prior to the recession too according too...

                                                                                Comment


                                                                                  Originally posted by hotspur View Post

                                                                                  Xtravision the cause of our financial imprudence prior to the recession too according too...
                                                                                  My father was the receiver of that particular empire back in the 90s. Remember the auld lad coming home with dozens of videos that he had liberated from one of the stores. White collar crime.
                                                                                  "We are not Europeans. Those people on the continent are freaks."

                                                                                  Comment


                                                                                    Originally posted by Emmet View Post

                                                                                    I didn't ask what decentralised finance was? I asked what centralised finance is? If you're defining decentralised finance as the complement of that, then you surely would be able to explain in layman's terms what it is that you would like to break away from.

                                                                                    Tell me what you don't want in the financial system that exists today and give me 3 genuine benefits to a state deciding that a decentralised approach to the monetary system is a better option. We'll not consider any of the costs just yet. Just 3 tangible improvements to my neighbour Mrs. Keogh's life that would come about if we all jumped ship and 'moved across' the boundaries. Ideally these 3 benefits would be specifically applicable, and not available to us in our current setup.

                                                                                    FWIW Target 2 launched in the Eurozone in 1999, based on the back of existing digital payment systems to facilitate central bank cross-border settlement. Nobody was delivering pallets of euros to the ECB daily to offset their obligations to the ECB.
                                                                                    Every single question here has already been answered in my last few posts. I specifically addressed what centralised finance refers to is in the post this is in response to, and If you read the research I posted you could answer the improvements question yourself.

                                                                                    Comment


                                                                                      Originally posted by Hectorjelly View Post

                                                                                      Every single question here has already been answered in my last few posts. I specifically addressed what centralised finance refers to is in the post this is in response to, and If you read the research I posted you could answer the improvements question yourself.
                                                                                      Just as a matter of interest HJ, when did you become interested in finance generally and crypto specifically? I never remember you ever having any interest or demonstrated knowledge in the subject until recently when you are presenting yourself as an authority.

                                                                                      Are you working in the area now? Or have you done a Masters or something?
                                                                                      "We are not Europeans. Those people on the continent are freaks."

                                                                                      Comment


                                                                                        Originally posted by Emmet View Post

                                                                                        I didn't ask what decentralised finance was? I asked what centralised finance is? If you're defining decentralised finance as the complement of that, then you surely would be able to explain in layman's terms what it is that you would like to break away from.

                                                                                        Tell me what you don't want in the financial system that exists today and give me 3 genuine benefits to a state deciding that a decentralised approach to the monetary system is a better option. We'll not consider any of the costs just yet. Just 3 tangible improvements to my neighbour Mrs. Keogh's life that would come about if we all jumped ship and 'moved across' the boundaries. Ideally these 3 benefits would be specifically applicable, and not available to us in our current setup.

                                                                                        FWIW Target 2 launched in the Eurozone in 1999, based on the back of existing digital payment systems to facilitate central bank cross-border settlement. Nobody was delivering pallets of euros to the ECB daily to offset their obligations to the ECB.
                                                                                        I’d be interested to hear this, genuinely curious as to what has people so excited as I’m so unfamiliar with it.

                                                                                        Comment


                                                                                          What is appearing on HSE PCs this morning...

                                                                                          Happiness is not a goal; it is a by-product. ~Eleanor Roosevelt

                                                                                          Comment


                                                                                            Originally posted by Wombatman View Post
                                                                                            What is appearing on HSE PCs this morning...

                                                                                            Well at least they are demonstrating one of the only really useful applications of crypto

                                                                                            Comment


                                                                                              Funny thing about defi crypto space is that it’s just replicating all the classic normal financial system scams but online. Sad to see people fall for it

                                                                                              Comment


                                                                                                Originally posted by Goodluck2me View Post

                                                                                                I’d be interested to hear this, genuinely curious as to what has people so excited as I’m so unfamiliar with it.
                                                                                                Genuinely interested too.

                                                                                                I've been in the business of creating and securely transferring securing funds in any currency for decades. We have been ready to support blockchain transactions since '15 after various schemes were touted but not a single one of our customers have found a practical use for them. A couple of times the tech was being investigated for a 'know your customer' service but so far none of them seem to be going anywhere. No sign of any of the big payment schemes or CB's showing any interest and all the product and research people just shrug their shoulders and ask 'What's the use case?'.
                                                                                                Turning millions into thousands

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                                                                                                  Originally posted by Strewelpeter View Post

                                                                                                  Genuinely interested too.

                                                                                                  I've been in the business of creating and securely transferring securing funds in any currency for decades. We have been ready to support blockchain transactions since '15 after various schemes were touted but not a single one of our customers have found a practical use for them. A couple of times the tech was being investigated for a 'know your customer' service but so far none of them seem to be going anywhere. No sign of any of the big payment schemes or CB's showing any interest and all the product and research people just shrug their shoulders and ask 'What's the use case?'.
                                                                                                  I've been working in banking for 20 years+. We have truly massive tech budgets and a fervent desire to make best use of emerging technologies, which we execute upon. Doing some truly groundbreaking work in various areas.

                                                                                                  Everyone tends to get initially super-excited about Blockchain; I've seen tons of research projects spun up on things like a Custody blockchain, an Asset Servicing blockchain, clearing blockchains etc etc - they have all petered out pretty quick. One of my buddies had to leave a job because he had got tagged as being a blockchain expert and thus kept being given these 'doomed to fail before they even started' projects, which was fucking up his career.
                                                                                                  "We are not Europeans. Those people on the continent are freaks."

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                                                                                                    Originally posted by ComradeCollie View Post
                                                                                                    Oh dear


                                                                                                    Conti ransomware.
                                                                                                    ﴾͡๏̯͡๏﴿

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                                                                                                      Originally posted by Micknail View Post

                                                                                                      Conti ransomware.
                                                                                                      I think you'll find it's pronounced 'cunty'.
                                                                                                      "We are not Europeans. Those people on the continent are freaks."

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                                                                                                        Originally posted by Raoul Duke III View Post

                                                                                                        I think you'll find it's pronounced 'cunty'.
                                                                                                        My mind immediately sprang to Nina Conti.

                                                                                                        Solks definitely would.
                                                                                                        ﴾͡๏̯͡๏﴿

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                                                                                                          Originally posted by Wombatman View Post
                                                                                                          What is appearing on HSE PCs this morning...


                                                                                                          A grim period to be working in IT for the HSE. They are fairly antiquated in terms of systems from my limited knowledge so the ransomware would have pissed through their network. Likely, the hackers were in the network undetected for an extended time before flipping the switch.

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                                                                                                            Originally posted by Raoul Duke III View Post

                                                                                                            Just as a matter of interest HJ, when did you become interested in finance generally and crypto specifically? I never remember you ever having any interest or demonstrated knowledge in the subject until recently when you are presenting yourself as an authority.

                                                                                                            Are you working in the area now? Or have you done a Masters or something?
                                                                                                            I've worked as an analyst for a company in the space for about a year and a half, which in crypto terms is a long time. DEFI only really exploded last summer.

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                                                                                                              Does anyone have a recommendation for an online project management solution or tracker? I have MS project at work but it's overkill for my needs. I don't need to go into massive detail with Gantt charts, resources or critical paths, etc. Just something to simply to log a number of simultaneous small projects about 1-6 months in duration. Not a fan of MS planner either fwiw.

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                                                                                                                Originally posted by Strewelpeter View Post

                                                                                                                No sign of any of the big payment schemes or CB's showing any interest and all the product and research people just shrug their shoulders and ask 'What's the use case?'.
                                                                                                                As has been posted here several times, this is not true. The ECB recently released a bond on Ethereum:

                                                                                                                On 27 April 2021, the EIB launched a digital bond issuance on a blockchain platform, deploying this distributed ledger technology for the registration and settlement of digital bonds, in collaboration with Goldman Sachs, Santander and Societe Generale.


                                                                                                                "The EIB believes that the digitalisation of capital markets may bring benefits to market participants in the coming years, including a reduction of intermediaries and fixed costs, better market transparency through an increased capacity to see trading flows and identity of asset owners, as well as a much faster settlement speed."

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                                                                                                                  Originally posted by coillcam View Post


                                                                                                                  A grim period to be working in IT for the HSE. They are fairly antiquated in terms of systems from my limited knowledge so the ransomware would have pissed through their network. Likely, the hackers were in the network undetected for an extended time before flipping the switch.
                                                                                                                  I would imagine the new booking system for the vaccines was very quickly implemented without due diligence.

                                                                                                                  Then again, could have been spam / usb keys etc, who knows yet.
                                                                                                                  ﴾͡๏̯͡๏﴿

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                                                                                                                    Originally posted by Goodluck2me View Post

                                                                                                                    I’d be interested to hear this, genuinely curious as to what has people so excited as I’m so unfamiliar with it.
                                                                                                                    It's faster, cheaper, safer (in theory, it definitely isn't now), more transparent and more democratic, and it allows people to take part in the financial system in a way that is not possible now.

                                                                                                                    To take a practical example, if you take a borrowing/lending protocol, (like AAVE for example). Borrowers get a better deal than they would from traditional finance, and what is really a gamechanger is anyone can provide liquidity and get rewarded for doing so. Because there is no financial intermediary the spread between borrows and lenders is minimal. This isn't pie in the sky, it's up and running now with multiple billions in locked liquidity.

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                                                                                                                      Originally posted by Raoul Duke III View Post

                                                                                                                      I've been working in banking for 20 years+. We have truly massive tech budgets and a fervent desire to make best use of emerging technologies, which we execute upon. Doing some truly groundbreaking work in various areas.

                                                                                                                      Everyone tends to get initially super-excited about Blockchain; I've seen tons of research projects spun up on things like a Custody blockchain, an Asset Servicing blockchain, clearing blockchains etc etc - they have all petered out pretty quick. One of my buddies had to leave a job because he had got tagged as being a blockchain expert and thus kept being given these 'doomed to fail before they even started' projects, which was fucking up his career.
                                                                                                                      This reminds me of my first job (in IT) where I listened to a network engineer give a presentation on how WIFI would only ever be a novelty.

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                                                                                                                        Originally posted by Micknail View Post

                                                                                                                        I would imagine the new booking system for the vaccines was very quickly implemented without due diligence.

                                                                                                                        Then again, could have been spam / usb keys etc, who knows yet.
                                                                                                                        The HSE would have a massive footprint that could be targeted. It's a big bureaucratic mess and their IT is probably no different. I'd suspect there is any number of vulnerable entry points. Unpatched web servers or legacy devices left internet-facing would have been an obvious one for me but emails are the #1 source of these threats. We've got a few emails recently from suppliers/customers to watch out for dodgy emails from their domain - in each case email credentials were put into fake websites. It's a constant scourge. The cybercriminals behind this ransomware are very skilled and would be quite specific on who they target.

                                                                                                                        There are so many vulnerable devices out there. You can easily go to shodan.io and search for IP addresses in Ireland and find CCTV boxes that are internet-facing for remote access - less than 5 mins and you don't need to be a hacker or security engineer to do this. Shodan is incredibly scary, we really have no idea of the amount of devices that are out there and the amount of entry points as a result.

                                                                                                                        A couple of years back a security researcher found that the vast majority of Eir modems had a backdoor through an open port. As a result, it was trivial to compromise them. Eir eventually patched this and then replaced the modems but it didn't happen that fast. Similarly, the Fastway "hack" was from another security researcher who found they had a public-facing database with every customer's info. In both cases, Shodan had inventoried the public IP addresses of vulnerable systems so the researchers could easily identify them. Imagine what the real bad guys are doing with Shodan?

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                                                                                                                          Originally posted by Hectorjelly View Post

                                                                                                                          As has been posted here several times, this is not true. The ECB recently released a bond on Ethereum:

                                                                                                                          On 27 April 2021, the EIB launched a digital bond issuance on a blockchain platform, deploying this distributed ledger technology for the registration and settlement of digital bonds, in collaboration with Goldman Sachs, Santander and Societe Generale.


                                                                                                                          "The EIB believes that the digitalisation of capital markets may bring benefits to market participants in the coming years, including a reduction of intermediaries and fixed costs, better market transparency through an increased capacity to see trading flows and identity of asset owners, as well as a much faster settlement speed."
                                                                                                                          Blockchain - yes

                                                                                                                          Cryptocurrency - no (I did ask you multiple times what the issue currency of this bond was but you didn't want to answer)
                                                                                                                          "We are not Europeans. Those people on the continent are freaks."

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